IR Releases - Archive

June 19, 2002

Deutsche Bank disposes of remaining stake in Munich Re

DB Investor, the arm of Deutsche Bank set up to manage the bank's industrial shareholdings, has sold its remaining stake in Münchener Rückversicherungs-Gesellschaft AG of 7.6 mn shares. The transaction valued at EUR 1.6 bn has been placed today with institutional investors globally. The sale was several times oversubscribed. It was priced at EUR 215 per share, a discount of 2.4 % to the share price at closing of the book. Considering the difficult market conditions in particular, the result of the sale can be regarded a very good success.

The transaction continues the divestment program of Deutsche Bank's industrial stakes. As already communicated, the capital gain is available for a potential share buy back programme.